Risk Parity Radio

Latest Episodes:

Episode 218: Risk Parity Accumulations, Hedgehogs and Foxes, The Pleasuredome And Our Portfolio Reviews As Of November 18, 2022 Nov 20, 2022

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In this episode we answer emails from Ethan, Eric, MyContactInfo and Jon. We discuss using the Golden Ratio portfolio for intermediate accumulations, Hedgehogs and Foxes in economic forecasting, total bond funds, momentum factor investing and Frankie Goes To Hollywood.
And THEN we our go through our weekly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio. With rebalancing this week!
Additional links:
Wealthtrack Interview of Jim Grant: INFLATION’S DAMAGE: FINANCIAL CONSEQUENCES & INVESTMENT STRATEGIES WITH HISTORIAN JAMES GRANT : WealthTrack
Flirting With Models Podcast with Andrew Beer (DBMF): Flirting with Models: Andrew Beer - Replicating Hedge Fund Beta (S5E9) (libsyn.com)
Bogleheads Forum Link on Total Bond Funds: Bogle said 75% Total Bond and 25% Investment Grade Corp. Bond? - Bogleheads.org
Fama on Momentum Article (I found it!): Fama on Momentum (aqr.com)

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Episode 217: Tax Loss Harvesting, Golden Ratio Mania, The Asset Swapping Technique, Portfolio Finding And Todd Nov 09, 2022

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In this episode we answer questions from Brad, Craig, AnnieMous, and Jack. We discuss new information from Portfolio Charts about tax-loss harvesting bond funds like TLT (and other funds), portfolio construction with the Golden Ratio, the recent popularity of managed futures with the info-sales and marketing crowd, portfolio management with asset swapping between taxable and tax-protected accounts, and REITs in the Portfolio Charts Portfolio Finder.
Links:
Portfolio Charts Tax Loss Harvesting Article: Harvesting the Fall: Why I Sold All My Bonds – Portfolio Charts
Buffett's Alpha Paper: Buffett’s Alpha (tandfonline.com)
Brad's Portfolio Construction Article: How to Balance a Portfolio - (breakingthemarket.com)
Brad's Other Article: Breaking the Market University -
Portfolio Charts Portfolio Finder: PORTFOLIO FINDER – Portfolio Charts
Early Retirement Now SWR Spreadsheet Tool Article and Link: An Updated Google Sheet DIY Withdrawal Rate Toolbox (SWR Series Part 28) – Early Retirement Now

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Episode 216: Tools & Talent, Fractional Shares, More Managed Futures And Portfolio Reviews As Of November 4, 2022 Nov 05, 2022

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In this episode we answer emails from Blake, Gen and MyContactInfo. We discuss Blake's good work with analysis tools, fractional shares of ETFs and more on managed futures and DBMF.
And THEN we our go through our weekly and monthly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio.
Additional links:
Blake's Model Portfolios: Model-Portfolios-for-Every-Financial-Stage-v2.pdf (pathwaytofi.com)
Blake's White Paper: Construction-and-Analysis-of-the-Pathway-to-FI-Model-Portfolios-v2.pdf (pathwaytofi.com)
Portfolio Charts Risk/Reward Calculator: RISK AND RETURN – Portfolio Charts
Portfolio Visualizer Asset Correlation Analyzer: Asset Correlations (portfoliovisualizer.com)
MyContactInfo Links to Andrew Beer/DBMF podcast: The Investors First Podcast: Andrew Beer, Dynamic Beta Investments: Replicating Hedge funds in an ETF Wrapper on Apple Podcasts

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Episode 215: Heavy Metal, ESG, Growth & Value Funds And The Infernal JEPI Nov 02, 2022

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In this episode we return from vacation ready to rumble and answer emails from Peter, David, MyContactInfo (x2) and Mark. We appreciate our listeners and then annoy them (I've got an angle), talk about ESG investing and why you want to have both growth and value funds and talk about buy-write funds in general and JEPI in particular.
Links:
Risk Parity Chronicles Resources: Resources - Risk Parity Chronicles
ESG Article One: Shades of Green - HumbleDollar
ESG Article Two: Musings on Markets: ESG's Russia Test: Trial by Fire or Crash and Burn? (aswathdamodaran.blogspot.com)
Backtest of 50/50 Value/Growth vs. Total Market: Backtest Portfolio Asset Class Allocation (portfoliovisualizer.com)
Asset Correlation Matric for JEPI: Asset Correlations (portfoliovisualizer.com)

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Episode 214: Tilting At Dragons, Common Mistakes And Getting Back To Theoretical Risk Parity Oct 19, 2022

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In this episode we answer emails from Harvey (a large rodent), MyContactInfo and Mark. We discuss the Dragon Portfolio and managed futures funds like DBMF, reprise Episode 202, some common mistakes of amateur investors, reverse mortgages (briefly), and how we have incorporated and modified classic and theoretical risk parity principles.
Links:
Recent Interview of Andrew Beer (DBMF): 214 Systematic Investor Series ft. Andrew Beer – October 16th, 2022 | Top Traders Unplugged
Harvey's First Link re Dragon Portfolio: How to Build a Recession-Proof Investment Portfolio (w/ Danielle DiMartino-Booth & Chris Cole) - YouTube
Harvey's Second Link re Dragon Portfolio: How to Build the Dragon Portfolio - YouTube
In Pursuit of the Perfect Portfolio book: In Pursuit of the Perfect Portfolio: The Stories, Voices, and Key Insights of the Pioneers Who Shaped the Way We Invest by Andrew W. Lo (goodreads.com)
CFA Manual Chapter re Risk Parity: chapter-4-from-managing-multiasset-strategies-2018.pdf (callan.com)
Early Retirement Now Gold Study: Using Gold as a Hedge against Sequence Risk – SWR Series Part 34 – Early Retirement Now

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Episode 213: The Coldness Of WARM, More Annuities, Fractional Shares And Portfolio Reviews As Of October 14, 2022 Oct 15, 2022

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In this episode we answer questions from Jeremy, Richard and Gen. We discuss the moribund WARM portfolio strategy, more issues about annuities and where to learn more about them, and fractional share trading of ETFs.
And THEN we our go through our weekly and monthly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio.
Additional links:
JL Collins Article on WARM Strategy: Sleeping soundly thru a market crash: The Wasting Asset Retirement Model - JLCollinsnh
Bogleheads Critiques of WARM Strategy: No risk retirement withdraw strategy - WARM - Bogleheads.org
Stan The Annuity Man Channel: Stan The Annuity Man - YouTube

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Episode 212: Revocable Trusts, Portfolio Management And Small Cap Funds Oct 12, 2022

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In this episode we answer emails from Sue, Vern and Rene. We discuss revocable trusts, where and where not to get them and why or why not you might want one, the mechanics of rebalancing and drawing down on a portfolio with multiple accounts, and the differences between various small cap funds like IJR, IJS, IJT and VIOV.

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Episode 211: Leverage, Real Estate, Projections And Portfolio Reviews As Of October 7, 2022 Oct 09, 2022

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In this episode we answer emails from Boone, MyContactInfo and Alex. We discuss issues with leverage, real estate invesments, spreadsheet projections and guessing about the future. Listen for the BLOOPER!
And THEN we our go through our weekly and monthly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio.
Additional links:
Video About Leverage: Investing With Leverage (Borrowing to Invest, Leveraged ETFs) - YouTube
Optimized Portfolios Leveraged ETFs Reviews: The 9 Best Leveraged ETFs To Enhance Portfolio Exposure (2022) (optimizedportfolio.com)
MyContactInfo's Link to Vanguard REIT: VGSLX-Vanguard Real Estate Index Fund Admiral Shares | Vanguard

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Episode 210: More SWRs, REITs, Factor Investing And Cruising To Winning the Game Oct 05, 2022

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In this episode we follow up on Episode 209 with some recent (as in this week) Wade Pfau references that confirm what we said about overly pessimistic SWR assumptions. And then we answer emails from Justin, Drew, Jim and Chris. We discuss REITs and the Risk Parity Chronicles series about them, good sources for information about factor or "smart beta" investing, and questions about transitioning from accumulation to decumulation when you are close to "winning the game."
Links:
Retire With Style Podcast #34: Retire With Style - Episode 34: Even In Volatile Markets, Find Out Why The 4% Rule Distribution May Be Too Low (google.com)
Risk Parity Chronicles REIT Series Conclusion: Post-script to REITs series: How do individual REITs compare? (riskparitychronicles.com)
Rational Reminder Podcast #213: RR #213 - Expected Returns and Factor Investing - YouTube
Rational Reminder Podcast #129: RR #129 - Five Factor Investing with ETFs - YouTube
Resolve Asset Management YouTube Channel: ReSolve Asset Management - YouTube

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Episode 209: Popular SWR Delusions And The Madness Of Gurus And Portfolio Reviews As Of September 30, 2022 Oct 01, 2022

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In this episode we answer a lengthy email from Kevin about issues with popular estimates of Safe Withdrawal Rates. We then discuss the problems with and failings of some of these estimates and their underlying analysis, including why Best Practices beat Convenient Shibboleths, failures to analyze non-simplistic portfolios, misuse of the "reversion to the mean" concept, improper use of conservative assumptions and modelling software, improper use of the 30-year time frame, and the failure to incorporate well-accepted favorable assumptions.
We also discuss appeals to popularity and conflicts of interest, including safety in numbers, the use of double standards, the popularity of pessimism, and the desire to please sponsors, sell products and maintain past consistency, whether foolish or warranted.
And THEN we our go through our weekly and monthly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio.
Additional links:
SWR Series #34: Using Gold as a Hedge against Sequence Risk – SWR Series Part 34 – Early Retirement Now
Next Level Life Video re Gold: Why Are Gold Portfolios So Dependable? - YouTube
RAM Interview of Wade Pfau: ReSolve Riffs with Wade Pfau on Optimal Retirement Strategies - YouTube
Morningstar 2011 (Lousy) Predictions Article: Your Forecasts for Stock and Bond Returns (2011)| Morningstar
Portfolio Charts SWR/PWR Calculator: WITHDRAWAL RATES – Portfolio Charts
Kitces Article Re Consequences of Retirement Spending Smile: How Total Spending Declines Over Time In Retirement (kitces.com)
RAM Interview of Antti Ilmanen: Antti Ilmanen on his new book "Investing Amid Low Expected Returns" - YouTube
Immediate Annuities Website: Immediate Annuities - Income Annuity Quote Calculator - ImmediateAnnuities.com

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